Pomeroy Outs Republican Plan on Social Security

Ways and Means Social Security Chairman Earl Pomeroy (D-ND) today released the results of a study from the Chief Actuary of Social Security analyzing several proposals, including those advanced by Republican Congressional leaders, as ways to reduce the long-term cost of Social Security. The analysis reveals that, contrary to the assertions by their proponents, these proposals would have a profoundly negative impact on the retirement security of middle-class seniors in addition to high-income retirees. ...

The Office of the Chief Actuary analyzed several proposals - including those by Budget Committee Ranking Member, Rep. Paul Ryan (R-WI), and Minority Leader John Boehner (R-OH) - that claim to make "modest" changes affecting higher-income seniors in order to "save" Social Security.

"The new analysis reveals that these proposals result in benefits cuts ranging from ten percent to as high as 50 percent,” continued Pomeroy.

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